Friday, July 13, 2007
Broadcom Completes $143M Global Locate Acquisition
Irvine-based Broadcom said late Thursday that it has completed its acquisition of San Jose-based Global Locate, in a $143M cash deal. The acquisition, which was originally announced in June, gives Broadcom ownership of Global Locate's global positioning system (GPS) and assisted-GPS chipsets and software. The deal also includes up to $80M in earn out. Global Locate was venture backed by Firsthand Capital Management, GC Investments, Motorola, Siemens Venture Capital and Third Point Offshore. Broadcom said it may record a one-time charge for purchased in-process research and development expenses related to the acquisition.